A-LevelEconomicsMicroeconomics: Firm Objectives & BehaviourMay/June 2018Paper 3 Q111 Mark
The diagram shows a firm in imperfect competition. It changed its aim from profit maximising to sales revenue maximising. [Figure 11.1] Which type of profit was it making in each case? profit maximising | sales revenue maximising ------------------|------------------------ A normal profit | supernormal profit B subnormal profit | normal profit C supernormal profit| normal profit D supernormal profit| supernormal profit
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